Internal Revenue Bulletin:
2006-14

April 3, 2006

Rev. Rul. 2006-22

Table of Contents

Federal rates; adjusted federal rates; adjusted
federal long-term rate and the long-term exempt rate. For purposes
of sections 382, 642, 1274, 1288, and other sections of the Code, tables set
forth the rates for April 2006.

This revenue ruling provides various prescribed rates for federal income
tax purposes for April 2006 (the current month). Table 1 contains the short-term,
mid-term, and long-term applicable federal rates (AFR) for the current month
for purposes of section 1274(d) of the Internal Revenue Code. Table 2 contains
the short-term, mid-term, and long-term adjusted applicable federal rates
(adjusted AFR) for the current month for purposes of section 1288(b). Table
3 sets forth the adjusted federal long-term rate and the long-term tax-exempt
rate described in section 382(f). Table 4 contains the appropriate percentages
for determining the low-income housing credit described in section 42(b)(2)
for buildings placed in service during the current month. Finally, Table
5 contains the federal rate for determining the present value of an annuity,
an interest for life or for a term of years, or a remainder or a reversionary
interest for purposes of section 7520.

REV. RUL. 2006-22 TABLE
1

Applicable Federal Rates
(AFR) for April 2006

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term

AFR

4.77%

4.71%

4.68%

4.66%

110% AFR

5.25%

5.18%

5.15%

5.12%

120% AFR

5.73%

5.65%

5.61%

5.58%

130% AFR

6.21%

6.12%

6.07%

6.04%

Mid-term

AFR

4.72%

4.67%

4.64%

4.63%

110% AFR

5.21%

5.14%

5.11%

5.09%

120% AFR

5.68%

5.60%

5.56%

5.54%

130% AFR

6.16%

6.07%

6.02%

5.99%

150% AFR

7.13%

7.01%

6.95%

6.91%

175% AFR

8.34%

8.17%

8.09%

8.03%

Long-term

AFR

4.79%

4.73%

4.70%

4.68%

110% AFR

5.27%

5.20%

5.17%

5.14%

120% AFR

5.76%

5.68%

5.64%

5.61%

130% AFR

6.24%

6.15%

6.10%

6.07%

REV. RUL. 2006-22 TABLE
2

Adjusted AFR for April
2006

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term adjusted AFR

3.33%

3.30%

3.29%

3.28%

Mid-term adjusted AFR

3.58%

3.55%

3.53%

3.52%

Long-term adjusted AFR

4.25%

4.21%

4.19%

4.17%

REV. RUL. 2006-22 TABLE
3

Rates Under Section 382
for April 2006

Adjusted federal long-term rate for the current month

4.25%

Long-term tax-exempt rate for ownership changes during the current
month (the highest of the adjusted federal long-term rates for the current
month and the prior two months.)